47153 AG Barr Annual Report 2025 AW4 SQ WEB - Flipbook - Page 191
Strategic Report
Corporate Governance
Accounts
LTIP
During the year, an award of shares was made to the executive directors and senior executives.
The weighted average fair value of the share awards made during the period was determined using the Black-Scholes valuation model. The significant inputs to the model
were as follows:
LTIP
2 May 2024
Date of grant
Number of share awards granted
Share price at date of grant
Contractual life in years
Dividend yield
Expected outcome of meeting performance criteria (at grant date)
362,024
567p
3
2%
100%
Fair value determined at grant date
525p
The movements in the number of LTIP awards outstanding and their related weighted average exercise prices determined using the Black-Scholes valuation model
are as follows:
At start of the year
Granted
Vested
Lapsed
At end of the year
2025
Share awards
2024
Share awards
1,096,457
401,177
(368,139)
(192,591)
936,904
954,431
438,318
(227,367)
(68,925)
1,096,457
The weighted average share price on the dates that share awards vested in the year to 25 January 2025 was £5.72.
The weighted average remaining contractual life of the outstanding share awards at the year end is 1.26 years (2023: 1.24 years).
AESOP
As described in the Directors’ Remuneration Report, there are two elements to the AESOP.
The partnership share element provides that for every two shares (year to 28 January 2024: two shares) that a participant purchases in A.G. BARR p.l.c., up to a maximum
contribution of £150 per month, the Company will purchase one matching share. The matching shares purchased are held in trust in the name of the individual. There are
various rules as to the period of time that the shares must be held in trust but after five years, the shares can be released tax free to the participant.
The second element of free shares allows participants to receive shares to the value of a common percentage of their earnings, related to the performance of the Group.
The maximum value of the annual award is £3,600 and the shares awarded are held in trust for five years.
Under the terms of the AESOP rules, any award of free shares to employees is made by the Trustee of the AESOP subject to the Company’s consent.
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